I don't have too much money (I'm 16), but basically all of my wealth is, though not cash, basically in the same situation. I have a checking account earning 0.1%/year and a "savings" account earning 0.2%. So the interest is negligible, and my money is still depreciating just about as fast as cash.
Yeah, when I get older I'll buy stocks, maybe buy a house, etc. But I have a decent amount of wealth, and I'm "paying interest" on all of it.
If interest rates weren't in the toilet right now, I'd look for a savings account paying real interest, a CD, or something of that sort. Luckily the "interest rate" levied on cash is low right now, so it's not worth it to me to bother.
Yeah, when I get older I'll buy stocks, maybe buy a house, etc. But I have a decent amount of wealth, and I'm "paying interest" on all of it.
If interest rates weren't in the toilet right now, I'd look for a savings account paying real interest, a CD, or something of that sort. Luckily the "interest rate" levied on cash is low right now, so it's not worth it to me to bother.